Corporation Names Ed Ossie as New CEO; Ossie Assumes Additional Responsibilities After Four Years as Company President.

Business/Technology Editors

KANSAS CITY, Kan.--(BUSINESS WIRE)--Sept. 18, 2000

MTW Corporation, a fast-growing, innovative provider of web-related application architecture, software and services solutions primarily for property & casualty insurance companies and state government agencies, announced today that, effective September 1, Ed Ossie is the company's new Chief Executive Officer. Ossie, who has been the company's president for the past four years, will assume the additional role and responsibilities from Richard E. Mueller, MTW's founder. Mueller, who moves away from operational responsibilities, continues as an active stockholder and member of the company's board of directors.

Ossie, who has been with MTW for five years, has spent the last four years working with founder Richard Mueller and the MTW management team to transition the company into a world class software company, delivering mission critical, web based transaction systems to large enterprises. Prior to MTW, Ossie spent 19 years with Texas Instruments where he was one of the founders of TI's Software Business. At TI he led sales, marketing and business operations as the General Manager and Vice President for the Americas and helped grow operations from startup to $250 million.

"Ed continues to do a fantastic job in moving MTW forward as a premier software and services provider to the financial services and state government markets," said Richard Mueller, MTW founder. "He has been instrumental in building the internal team and external partnerships the company needs to continue our pattern of growth and customer satisfaction."

One of the most recent and significant partnerships for MTW is the relationship established with Halifax Capital Partners. Formed in January 1999, Halifax seeks opportunities for equity investments in small and mid cap companies, targeting companies with total enterprise valuations between $50 million and $250 million and requiring equity investments between $10 million and $40 million. The partnership will deliver the financial strength, industry relationships and strategic positioning the company needs for the next stage of its growth.

About MTW Corporation:

MTW provides web-related application architecture and development services and sells developed software components primarily to property & casualty insurance companies and state government agencies. MTW-developed components, methods, tools, and professional services are designed to deliver mission critical transaction-based information systems to major enterprises quickly and with a lower cost of ownership. MTW has software development centers in Kansas City; Plano, Texas; Durham, North Carolina; Bel Air, Maryland; and Morristown, New Jersey.